TD Bank Receives Regulatory Approval for Acquisition of Commerce Bancorp

    TORONTO, March 13 /CNW/ - TD Bank Financial Group (TSX, NYSE:   TD) today
announced that it has received all regulatory approvals necessary to complete
the acquisition of Commerce Bancorp, Inc. (NYSE:   CBH). The transaction is
expected to close in the next few weeks.
    "We're delighted with this important milestone that brings us closer to
officially welcoming Commerce Customers, Employees, and Shareholders into the
TD family," said Ed Clark, TD Bank Financial Group President and Chief
Executive Officer. "The combination of TD, TD Banknorth and Commerce is set to
make us a truly North American powerhouse - one that will define what
outstanding convenience and service in banking is all about."
    TD Bank Financial Group also announced it will hold an investor call and
webcast after the transaction closes. The call will feature presentations by
TDBFG executives on the completion of the transaction and expected earnings
impact, followed by a question and answer period with investors and analysts.
Call details will be released after the transaction closes.

    About TD Bank Financial Group

    The Toronto-Dominion Bank and its subsidiaries are collectively known as
TD Bank Financial Group. TD Bank Financial Group serves more than
14 million customers in four key businesses operating in a number of locations
in key financial centres around the globe: Canadian Personal and Commercial
Banking, including TD Canada Trust; Wealth Management, including TD Waterhouse
and an investment in TD Ameritrade; U.S. Personal and Commercial Banking
through TD Banknorth; and Wholesale Banking, including TD Securities. TD Bank
Financial Group also ranks among the world's leading on-line financial
services firms, with more than 4.5 million on-line customers. TD Bank
Financial Group had CDN$435 billion in assets, as of January 31, 2008. The
Toronto-Dominion Bank trades on the Toronto and New York Stock Exchanges under
the symbol "TD", as well as on the Tokyo Stock Exchange.

For further information:

For further information: Simon Townsend, Media Relations, (416)
944-7161; Tim Thompson, Investor Relations, (416) 308-9030

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